ShareRoot Ltd (ASX:SRO) shareholders have given the green light to a change in name to Opyl Ltd (ASX:OPL), a 100:1 share consolidation and reappointment of the Board of Directors.
The repositioning and rebranding of the company was voted on by shareholders at the company’s annual general meeting today.
Change in ticker
ShareRoot is working with the ASX to update its ticker code to OPL and this will be actioned in due course.
The consolidation process will begin in accordance with a timetable set out in the notice of annual general meeting.
“Major milestone”
Chief executive officer Michelle Gallaher said, “Today marks a major milestone in setting the company firmly on the burgeoning global digital health track, securing the critical support of our Board of Directors as we begin to scale and improve the investment profile of the company.
“I’m really pleased that shareholders have recognised the value in repositioning and rebranding the company to address the global digital health market.
“The new name more accurately reflects our Australian character and the use of artificial intelligence in mining structured and unstructured health data to deliver deep audience insights and engagement.”
A “clear vision”
Chairman Dr Julian Chick said, “Michelle has a clear vision as to how the company should be positioned and the services and technologies we need to offer to capture a key stake in the global healthcare sector.
“We have a significant advantage in being able to leverage Michelle’s strong leadership and marketing expertise in accelerating the new brand, developing scalable technologies and services as well as leading and influencing opinion on the ethical use of AI and data in improving the health and wellness experience.”
Since taking on the CEO role nine months ago, Gallaher has rebuilt the technology pipeline, securing collaborators and new investment to drive value.
Transition from US
ShareRoot has now completed the transition from the US, relocating the CEO office, headquarters and research and development function in Australia.
This comes while the company rebuilds and accelerates the technology pipeline and repositions its services offering.
Gallagher added, “The Board and management team are excited to begin the new year with a fresh offering to the global market, seeking new clients and partners whilst the technology pipeline confidently advances to plan here in Australia.”